1. FY16 YEAR END Extended Close JE Procedures FINANCIAL MANAGERS FORUM MAY 18, 2016 FY16 YEAR END Extended Close JE Procedures FINANCIAL MANAGERS FORUM MAY 18, 2016

2. Year End Extended Close Journal Entry Procedures FY16 CHANGES IMPORTANT: NOTE THE SIGNIFICANT CHANGE IN FY16 REGARDING THE PROCESSING OF 4 th AND 5 th CLOSE JOURNALS Due to this year’s calendar constraints, the 5 th close period has been compressed into two days for FAR to accept journals. As a result, it is important for tubs to be vigilant in ensuring all of their year-end entries are processed by the end of the 4 th close. Note: For the 5 th close FAR will be accepting only those entries where it is determined absolutely imperative they be posted. Tubs will need to include a reason as to why the entry couldn’t be processed in the 4 th close. If it is anticipated that your tub will have a 5 th close entry it is recommended that the Controller or designee contact their tub analyst by mid point of the 4 th close to review the situation and need. This will avoid any surprises in the 5 th close regarding unacceptable journals not allowed to be posted. IMPORTANT: NOTE THE SIGNIFICANT CHANGE IN FY16 REGARDING THE PROCESSING OF 4 th AND 5 th CLOSE JOURNALS Due to this year’s calendar constraints, the 5 th close period has been compressed into two days for FAR to accept journals. As a result, it is important for tubs to be vigilant in ensuring all of their year-end entries are processed by the end of the 4 th close. Note: For the 5 th close FAR will be accepting only those entries where it is determined absolutely imperative they be posted. Tubs will need to include a reason as to why the entry couldn’t be processed in the 4 th close. If it is anticipated that your tub will have a 5 th close entry it is recommended that the Controller or designee contact their tub analyst by mid point of the 4 th close to review the situation and need. This will avoid any surprises in the 5 th close regarding unacceptable journals not allowed to be posted.

3. Year End Extended Close Journal Entry Procedures – FOURTH CLOSE Please continue to send a copy of every ADI journal to your tub analyst for FAR records, along with the JE reference number and dollar amount of entry Consistent with Q3, Tub should send separate emails to its tub analyst for uploaded journals vs central only object code journals Uploaded Journals: Prepare journal in ADI template and send to tub analyst, with all entries consolidated in one email per day Journals uploaded by tubs during the fourth and fifth closes have been reviewed and approved according to the tub’s policies and controls FAR’s responsibility will be limited to reviewing for compliance with restrictions (see next page) and posting for the tubs Send no later than 3pm daily deadline Central Only Object Codes: Prepare journal in ADI template and send separate email from uploaded journals to tub analyst FAR will review for appropriateness and respond with questions or upload/post the entry Send no later than 3pm daily deadline Please continue to send a copy of every ADI journal to your tub analyst for FAR records, along with the JE reference number and dollar amount of entry Consistent with Q3, Tub should send separate emails to its tub analyst for uploaded journals vs central only object code journals Uploaded Journals: Prepare journal in ADI template and send to tub analyst, with all entries consolidated in one email per day Journals uploaded by tubs during the fourth and fifth closes have been reviewed and approved according to the tub’s policies and controls FAR’s responsibility will be limited to reviewing for compliance with restrictions (see next page) and posting for the tubs Send no later than 3pm daily deadline Central Only Object Codes: Prepare journal in ADI template and send separate email from uploaded journals to tub analyst FAR will review for appropriateness and respond with questions or upload/post the entry Send no later than 3pm daily deadline

4. Year End Extended Close Journal Entry Procedures – FIFTH CLOSE Same restrictions and process as Fourth Close, EXCEPT: Prior to uploading the journal, email Karen O’Rourke and Tub Analyst with: A copy of the journal template, The reason this journal was not booked prior to fifth close, and The impact on the tub’s financial statements if not recorded. Same restrictions and process as Fourth Close, EXCEPT: Prior to uploading the journal, email Karen O’Rourke and Tub Analyst with: A copy of the journal template, The reason this journal was not booked prior to fifth close, and The impact on the tub’s financial statements if not recorded.

5. Year end Extended Close Journal Entry Procedures, Continued Restrictions: TUBS cannot transact to the following during the extended close period: No entries to sponsored funds No intertub billings allowed All intertub funding transfers* should be booked no later than EOD Monday, July 25 (exceptions may exist for transfers dependent upon third close results, but every effort should be made to complete these transfers on July 25) Consistent with prior years: No College Work Study entries allowed (o/c 0133 – 0171) No CIP, Plant, WIP, and Equipment entries (o/c1000-1630 & 6800-6816), including accruals No entries to Balance Forward object codes (3700-3999) *Note: Any intertub transactions must be submitted to impacted tubs for their approval prior to uploading Restrictions: TUBS cannot transact to the following during the extended close period: No entries to sponsored funds No intertub billings allowed All intertub funding transfers* should be booked no later than EOD Monday, July 25 (exceptions may exist for transfers dependent upon third close results, but every effort should be made to complete these transfers on July 25) Consistent with prior years: No College Work Study entries allowed (o/c 0133 – 0171) No CIP, Plant, WIP, and Equipment entries (o/c1000-1630 & 6800-6816), including accruals No entries to Balance Forward object codes (3700-3999) *Note: Any intertub transactions must be submitted to impacted tubs for their approval prior to uploading

6. Year end Extended Close Journal Entry Procedures, Continued OTHER REMINDERS: Ensure utilizing proper naming conventions in ADI Journals The Official University naming convention: Preparer’s Tub Name – i.e. FCOR, CADM, HMS Preparer’s org/unit (Optional, but preferred) Preparer’s initials Closing Period – 4CL or 5CL Purpose of the journal Date- (needed for ADI journals only. Manual entries show the JV create date in the Batch Name.) Note: All sections should be UPPERCASE ADI Naming Convention Example: CADM FBO CAB 4CL Seminar expense recovery 10-FEB-2016 Spreadsheet A 53766 39958273 (ADI JV example) DO NOT use special characters: Use of commas in your journal moves preceding data over 1 cell resulting in incorrect totals as the DR/CR amount for that journal is no longer in the DR/CR column but shifted over. OTHER REMINDERS: Ensure utilizing proper naming conventions in ADI Journals The Official University naming convention: Preparer’s Tub Name – i.e. FCOR, CADM, HMS Preparer’s org/unit (Optional, but preferred) Preparer’s initials Closing Period – 4CL or 5CL Purpose of the journal Date- (needed for ADI journals only. Manual entries show the JV create date in the Batch Name.) Note: All sections should be UPPERCASE ADI Naming Convention Example: CADM FBO CAB 4CL Seminar expense recovery 10-FEB-2016 Spreadsheet A 53766 39958273 (ADI JV example) DO NOT use special characters: Use of commas in your journal moves preceding data over 1 cell resulting in incorrect totals as the DR/CR amount for that journal is no longer in the DR/CR column but shifted over.